Vanadium and titanium of Panzhihua Iron and Steel Co., Ltd. issued a forecast that the net profit for the first three quarters was 760 million yuan to 810 million yuan, an increase of 300% to 326% over the same period last year.
According to the advance notice, the reasons for the changes in performance are as follows:
(1) during the reporting period, the company made every effort to make a good connection between production and marketing, and the price and sales volume of vanadium and titanium products increased significantly compared with the same period last year.
(2) during the reporting period, the overall operation of the company is good, strictly implement measures to reduce costs and increase efficiency, tap internal potential and enhance profitability;
(3) according to the review of the book value of the deferred income tax assets of the parent company on the balance sheet date by the financial department, it is expected that sufficient taxable income will not be obtained in the future period, and the deferred income tax assets shall be written down by about 120 million yuan by the end of this reporting period.
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